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Greatland Gold Share Price Edges Higher as Juri JV Advances to Stage 2

Sam Boughedda trader
Updated 19 Oct 2021

Greatland Gold (LON: GGP) shares are edging higher Tuesday after the company said the Juri Joint Venture with Newcrest Mining Limited will advance to Stage 2.

The move to stage 2 marks an extension and potential acceleration of the Juri JV exploration programme in the highly prospective Paterson province of Western Australia.

Also Read: Greatland Gold Stock Price Forecast

The first phase of a drilling programme was completed on the Paterson Range East and Black Hills tenements. Gold assays from the first four assayed holes of the Juri JV drill programme finding mineralisation at the Saddle Reefs target within the Black Hills licence in an intersection of 3.5m at 1.88 grams per ton of gold from 226.5m and the first gold identified at the Goliath Prospect including a significant assay of 1.0m at 1.49 grams per ton from 651m.

Samples from the remaining holes have been delivered to the laboratory and assays are expected to be available around November.

In addition, Greatland said investment under the Juri JV could increase from A$3m to A$20m.

Shaun Day, CEO of Greatland Gold, commented: Advancing to Stage 2 of the Juri JV marks an important step forward which further demonstrates the confidence and financial commitment of our partner Newcrest. This progression follows a successful initial drill programme, where mineralisation was discovered, and additional rich geological information obtained in respect of existing and new targets.

“This additional investment enables Greatland to expand and accelerate the 2022 Juri exploration programme without the need to self-fund this activity.”

Greatland Gold shares are currently up 0.8% at 17.74p.

Should you invest in Greatland Gold shares?

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.